Today, in part 2 of our blog series on estate planning “New Year’s Resolutions”, we are discussing the importance of keeping your estate plan updated, specifically your trust. First, as a reminder of why living trust are so valuable (versus just a will): by creating a...
It is very common and understandable for people to set up their estate plan assuming all the people you want to leave money to are still living at the time of your own death. However, far too many court battles have taken place due to a lack of contingency planning,...
With 2021 around the corner, we wanted to give you a quick New Year’s Resolution to make sure your estate plan is up to date moving forward. Today we are covering what we refer to as the incapacity plan, which consists of the financial durable power of attorney, the...
“I’m too young.” “I don’t want to think about death.” “My kids get along well, so there won’t be a fight over my estate.” “Estate planning is expensive.” “My estate isn’t big enough to warrant an estate plan.” “It’s a lot of work.” “I don’t know why I need one.”...
A: Because no one knows what type of medical treatment you want more than you do! Having an advance directive in place ensures that your wishes regarding your health care are carried out, even when you're unable to make your wishes known. In fact, in the absence of a...
When planning their estate, many people in California wonder if they should include their children in their will or trust. Some parents view their estate as their final gift to their children. However, some parents fear that leaving a large sum of money to their...
It may have been easy, but it is far from the best way! With respect to capital gains tax liability, when your mom gifted you her property, she unfortunately also gifted you her tax basis. This means, for example, that if your mom paid $50,000 for the property - and...
Sadly, it has become much more common in recent years for elderly individuals, who oftentimes live in isolation, have reduced cognitive function, and are more susceptible to undue influence and financial exploitation, to do things like unexpectedly sign over their...
Una oportunidad para ahorrar dinero es normalmente un gran motivador para realizar una compra, y también debería serlo para empujarte a tomar medidas para salvaguardar tu patrimonio. Sin un plan patrimonial legalmente vinculante, que también incluya una planificación...
Service members have life insurance through Servicemembers’ Group Life Insurance. If you have a living trust, name it as the beneficiary of the life insurance policy. If you have minor children but don’t have a trust, you should definitely create one and name it as...
